The worst thing that you can do as a slots player is bet money you can’t afford to lose. But how do you create a slots budget and avoid this problem?
Keep reading as I cover tips for how to make a budget that’ll help you avoid losing too much with slot machines.
Figure Out how Much Money You Earn
The best place to begin is finding out how much money you earn either every week or month. I prefer working off monthly figures for slots budgets, but this is a personal preference.
Calculating your monthly income can be as simple as adding up a few pay stubs. Most workers receive a weekly paycheck that’s worth a consistent amount (e.g. $800).
However, anybody who’s self-employed or works off commissions may require more time to figure out this info.
Calculate Your Expenses
The next step is to figure out how much you spend on bills and other expenses. Again, this can either be done on a weekly or monthly basis.
Add up how much you spend on rent/house payment, utilities, groceries, entertainment, and anything else.
Groceries and entertainment may vary on a weekly or monthly basis. But you should be able to come up with a reasonable average.
Add Everything up and Create a Slots Budget
The last step in the quest to create a slots budget is to subtract expenses from income.
Let’s say that you make $3,500 after taxes, for example. Now let’s assume you pay $2,500 worth of expenses.
This leaves you with $1,000 to play slots with. Of course, you don’t want to risk all $1k on slot machines.
It’s better to save some of your free cash for emergencies and retirement. In the case of our example, you could use $500 on slots and save the remaining $500 for other purposes.